中国产险业价格竞争有效性的实证研究

An Empirical Study on Price Competition Validity in China's Property Insurance Industry

中国产险市场的迅速发展,吸引了大量机构进入,同时也加剧了价格竞争。本文用赔付率作为保费价格的代理变量,采用横截面数据及最小二乘法分别对中美两国产险公司保费收入增长与保费价格、保险公司费用率之间的关系进行了研究。结果表明,在产险市场中,虽然价格竞争对增加保费收入有效,但其却极可能导致利润减少;而降低保险公司费用率可以同时增加保费收入和保险公司利润。以上结论对中国产险业尤其有效,最后本文建议中国产险业应以降低保险公司费用率作为首要选择;同时要限制价格过度竞争。

The rapid growth of property insurance market in China attracted many insurance companies, resuiting in fierce price competition. Taking loss ratio as the proxy variable of insurance premium rate, the paper conducts a cross-sectional study with least squares approach to test the relationship between income and both premium rate and expense ratio. The result is that price competition could possibly reduce companies＂ profits, while low expense ratio could bring more income and profits at the same time. Finally the paper suggests lowering expense ratio and controlling over competition.